Answer:
Yes, it is recorded in the income statement.
Step-by-step explanation:
Periodic Pension Expense is mainly the cost which is related to the pension plans which are mentioned on the income statement of a company. As such these are basically employee benefits provided by the company to their employees in a periodic period and is a source of income for employees when they reach their retirement age.
The costs included in the pension expense are service cost, interest cost, return on the plan's asset, amortization of prior service cost and amortization of actuarial gains or losses incurred during the period.